Along the river and toward the mountains a morning shadow shimmers across the road. The rays of the first light jet through the trees and across a figure gliding upon the road. His breath trails in short spurts, petrified as it hits the icy air. All is quiet except the slight sound of the athlete as he summons himself for yet another days work. Soon the rest of the world will bustle with life as well and the brief simplicity of cyclist and nature will disappear into the everyday struggle of life in full motion; the errands and intervals, the appointments and intersections, and the deadlines and finish lines OutPaceTheRace

Friday, October 12, 2007

Debt, foreclosures and the falling dollar

Nationwide, home prices are falling, sales are sluggish and the number of foreclosures is mounting. Ask any economist and you'll hear that things are bad, and likely to get worse.Unless you live in Seattle, where the market is slowing but fundamentals remain strong.The Emerald City has experienced strong price appreciation over the last six quarters, and that's expected to continue in the new year, though at a slower pace. In addition to a very low housing inventory and a strong sales rate, there are fewer non-conforming and high-risk loans on the books than in other cities, which means the area will likely see fewer defaults in the coming months than the rest of the country's markets. In other words, Seattle doesn't contribute to the falling dollar.